National News

Public University presidents rake in millions

by Matt Cantor, Newser Staff

(NEWSER) – Last year, four public university presidents boasted compensation of more than $1 million, a study finds. At the top: Graham Spanier, the former Penn State president driven out by the Jerry Sandusky sex abusescandal. Spanier made $2.9 million in the 2011-2012 fiscal year; part of that was his $1.2 million severance pay, theNew York Times reports. "The fact that Graham Spanier turns out to be the highest paid president in the country says something about the nature of compensation packages for people who leave under a cloud," says a reporter for the Chronicle of Higher Education, which conducted the study.